Being a conspiracy theorist wont make you rich

We have a couple of meme coins pumping right now and there are some whales buying. This has lead people in this sub to speculate that these whales have insider knowledge. A lot of people in crypto believe in whale conspiracy theories. E.g. driving down prices to buy cheaper or setting things up for a rug pull.

While the financial market has always had whales doing bad things, it doesn't help if you think whales always get it right. Or if you think every pump will end in a forever dump.

Whales get things wrong a lot. If you are old in crypto (pre 2016) you will know of people who were whales in the old days and some who are whales today. The market was small then and we knew who many of the big holders were. These people made mistakes and we saw them clearly. They got rich from BTC and then they would invest in projects that tanked. Some whales have lost a lot from trading. Whales can be just as dumb as many noobs.

Whales might be on average more knowledgeable than the noobs but they do make huge mistakes too.

Secondly if you think every pump is bound to lead to loss or is manipulation then you would have never made huge gains from BTC & ETH. You were probably the sort of person that never heard about BTC in the early days or who never took it seriously. Your lack of knowledge is not the fault of whales.

One of the most frustrating things about this sub is how there are so many terrible investors and traders here who think it is not possible to make big money in crypto because they are bad at it. They think that since they are bad then anyone making money must be doing some manipulation or insider trading. Just because you are bad at picking coins at the right time doesn't mean there are not clever people who can do it. You are the type of person who bought tops while blaming whales of buying at the bottom and no one stopped you buying bottoms too.

Pepe is a useless project but if a whale times it right it doesn't always mean they are doing manipulation. They might be smart and make a lot or stupid and lose a lot. You too could make smart or dumb moves.